Is it worth to put 72000 yrly in LIC Policies

POSTED BY Sucheta ON September 12, 2012 4:47 pm COMMENTS (6)

Hello there…

started policies from July 2011 as half yrly payment as per below…

JEEVAN SATHI – FOR 25 YRS. – SUM 200000 – 5718 PRM. WILL BE PAID FOR 25 YRS

JEEVAN SATHI – FOR 26 YRS. – SUM 200000 – 5610 PRM  WILL BE PAID FOR 27 YRS

JEEVAN SATHI – FOR 27 YRS. – SUM 200000 – 5516PRM  WILL BE PAID FOR 27 YRS

JEEVAN SATHI – FOR 28 YRS. – SUM 200000 – 5427 PRM  WILL BE PAID FOR 28 YRS.

JEEVAN SATHI – FOR 29 YRS. – SUM 200000 – 5353 PRM  WILL BE PAID FOR 29 YRS.

JEEVAN SURABHI – FOR 25 YRS. – SUM 70000 – 3210 PRM  WILL BE PAID FOR 18 YRS.

JEEVAN CHHAYA – FOR 19 YRS.- SUM 60000 – 1875 PRM WILL BE PAID FOR 19 YRS.

JEEVAN CHHAYA – FOR 24 RS. – SUM 60000 – 1523 PRM WILL BE PAID FOR 24 YRS.

MONEY BACK – FOR 20 YRS. – SUM 60000 – 2046 PRM WILL BE PAID FOR 20 YRS.

AMULYA JEEVAN – I – 2500000 – 12500 HALF YEARLY FOR 30 YRS.

 

My husband is 38 & me (wife) 37..we have 4 years old son.. after reading ur blogs on LIC im totaly confused whether we r putting money right way or not….since my more concern is higher return…what can i do now… waiting for advice since we have already paid 3 premiums towards the same…

 

6 replies on this article “Is it worth to put 72000 yrly in LIC Policies”

  1. Jig says:

    amulya Jeevan , 12500 half yearly for 25 Lac looks too costly.
    good Brand HDFC online term plan is very cheap compare to this one even if you take age in count.
    I guess your same yearly amount for amulya jeevan can buy 1 Crore insurance.
    and divert all your money in HDFC balanced if you dont wna take much risk. which defenately will beat inflation or atleast protect to erode the value.

    If you able to take risk, and as you already taken all policies for more than 25 yrs then go to equity route like Franklin India Bluechip,DSP top 100 or Qauntum LTEF.

    thanks

  2. Roshan DMello says:

    Hi Sucheta,

    Surrender/STOP paying further premiums. AMULYA JEEVAN is pure Term Plan you can continue but you can go for cheapest ONLINE TERM PLANS of Aegon Religare iterm, HDFC Click For more info. read:
    https://www.jagoinvestor.com/2011/08/lic-policies.html
    https://www.jagoinvestor.com/2011/12/cheap-online-term-insurance-plans.html

  3. Karthik says:

    shocked to see this. so many people are just buying LIC policies without any knowledge on that (including me).
    btw, why do you have 5 JEEVAN SATHI’s each having 1 year difference?!

    1. Sucheta says:

      actualy my husband wanted to have some particular amount of risk cover….so according to that we got suggetion to go for above policies….he wants 40 lacs risk cover at the same time returns…so LIC Guy given us the above policies…now we have already paid 3 premiums…dnt know how to make understand my husband that we r going to block our hard money for long term

      1. Karthik says:

        You can continue with the term plan AMULYA JEEVAN. But should not continue other policies. Redirect the investment into Equity MFs. Read the old posts in this forum, that will help.

  4. logaraja says:

    No.Not at all.these lic policies cannot beat inflation.go for term insurance.and invest in diversified mf for long term.

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